EXCO Resources files for reorganization under Chapter 11 of Bankruptcy Code

Dallas-based EXCO Resources Inc., which has oil and natural gas operations in the Appalachian basin, has filed petitions for a court-supervised reorganization under Chapter 11 of the U.S. Bankruptcy Code in the Southern District of Texas, reports Oil & Gas Journal. The news site says the company is in discussions with creditors regarding the terms of a financial restructuring plan, including a possible sale of assets. EXCO also operates in Texas and Louisiana. For more, read the full story.

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